Here’s How Much The Top NFL Draft Picks Will Make With Their Contracts
The NFL draft was a little different this year. In the midst of the coronavirus pandemic, theft of people from around the world to gather in one place was not possible. Instead, the teams created makeshift war rooms at home and made choices virtually. It wasn’t the same – and there certainly weren’t as many boos as usual – but the league made it work.
For the first draft picks, they may have missed being able to cross the stage and shake the commissioner Roger Goodell is the hand. However, they will still make a lot of money.
The best choice, Joe Burrow, for example, will make $ 36 million from his rookie contract. This includes a signing bonus of $ 23.9 million. Even if he never threw a pass for the Cincinnati Bengals, he would still make close to $ 24 million. Of course, the Bengals hope this is not the case and it will remain for several decades, but it is a nice guarantee.
Alabama graduates also cleaned up well. Between Tua Tagovaiola, Jedrick Wills Jr., Henry Ruggs III and Jerry Jeudy, the first four recruits Crimson Tide will earn $ 81.9 million thanks to their contracts.
Where things get even more interesting is by considering the landing points for these players. Take for example Andrew Thomas and Tua Tagovailoa. Thomas was the fourth choice, signing a deal with the New York Giants worth $ 32.3 million. Tagovailoa came fifth in Miami; his deal is worth $ 30.3 million.
In total amount alone, Thomas will earn more money. But we must also take into account the state income tax. In New York – or more precisely New Jersey, where the Giants play and train – the tax rate for someone earning $ 5 million or more is 10.75%. In Florida? There is no state income tax.
This means that Thomas is taxed an additional 10.75%. He loses more than $ 3.47 million for the state, while Tagovailoa only pays federal and local taxes. If Thomas chooses to live in New York, he could save a little money, but he would still pay millions of state income taxes.
Adding to the complexity are the jock fees, which are imposed on games that are played in visiting teams. For example, Derrick Brown, the Panthers’ first-round pick, would pay most of his taxes to North Carolina. However, he also owed a game to New Orleans and Atlanta, his rival colleagues from NFC South (he would avoid paying taxes for the game in Tampa).
It is still unknown if the NFL will progress as planned or if the season will be delayed. But at least these players know which team they belong to and how much they will win, and that should bring a lot of peace of mind.
Here’s a look at the top half of the first round, according to Darren Rovell of The Action Network:
- Joe Burrow, Bengals – $ 36.0 million, signing bonus of $ 23.9 million
- Chase Young, Redskins – $ 34.6 million, $ 22.7 million signing bonus
- Jeff Okudah, Lions – $ 33.5 million, signing bonus of $ 21.9 million
- Andrew Thomas, Giants – $ 32.3 million, signing bonus of $ 21.1 million
- Tua Tagovailoa, Dolphins – $ 30.3 million, signing bonus of $ 19.6 million
- Justin Herbert, Chargers – $ 26.6 million, signing bonus of $ 16.9 million
- Derrick Brown, Panthers – $ 23.6 million, $ 14.7 million signing bonus
- Isaiah Simmons, Cardinals – $ 20.7 million, $ 12.6 million signing bonus
- C.J. Henderson, Jaguars – $ 20.5 million, signing bonus of $ 12.5 million
- Jedrick Wills Jr., Browns – $ 19.7 million, $ 11.9 million signing bonus
- Mekhi Becton, Jets – $ 18.4 million, signing bonus of $ 11.0 million
- Henry Ruggs III, Raiders – $ 16.7 million, $ 9.7 million signing bonus
- Tristan Wirfs, Buccaneers – $ 16.2 million, $ 9.4 million signing bonus
- Javon Kinlaw, 49ers – $ 15.5 million, $ 8.8 million signing bonus
- Jerry Jeudy, Broncos – $ 15.2 million, $ 8.6 million signing bonus
- UN J. Terrell, Falcons – $ 14.3 million, $ 8.0 million signing bonus
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